HarperCollins based in the United Kingdom has released some staggering numbers that have propelled it into a three year high. The company made $389 million dollars in the year ending in June 2011. Sales of eBooks during this time have risen by almost 700% and account for 10% of the overall sales. The company also is starting to focus on the Australian market and are starting to see gains via e-books and other media applications which have started “to bear fruit”.
In a statement, the publisher said: “Operating profit has dropped in comparison to the year before but that is purely because of exceptional rights income in the prior year. On a like for like basis, stripping out the exceptional rights income, operating profit has increased by 120%.”
Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about audiobooks and e-readers for the past ten years. His articles have been picked up by major and local news sources and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times.